SHAREHOLDER UPDATE:  Brodsky & Smith, LLC Announces an Investigation  of  The Board of Directors of Applied Micro Circuits Corporation -AMCC

 

BALA CYNWYD, November 21, 2016 (PR Newswire) – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Applied Micro Circuits Corporation (“Applied Micro” or “the Company”) (Nasdaq- AMCC-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to MACOM Technology Solutions Holdings, Inc. (“MACOM”).

Under the terms of the transaction, Applied Micro shareholders will receive only approximately 0.1089 of a share of MACOM stock and $3.25 in cash for each share of Applied Micro stock they own. The transaction values Applied Micro at only approximately $8.36 per share. The investigation concerns whether the Board of  Applied Micro breached their fiduciary duties to shareholders and whether MACOM is underpaying for the Company. The transaction may undervalue the Company and would result in no real gain for many Applied Micro shareholders. For example, Applied Micro  stock traded at $8.03 per share on June 18, 2015 and an analyst has set an $11.00 per share price target for Applied Micro stock.

If you own shares of Applied Micro stock and wish to discuss the legal ramifications of  the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA  19004, or calling toll  free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.